Extension Information and Updates from States due to COVID-19
Extension Information and Relief Provisions for Coronavirus
|As found on page 7 of the Payment, Mailing and Filing Instructions, "Prepayments - Revenue and Taxation Code Section 12255: The commissioner, for good cause shown, may extend for not to exceed 10 days the time for making a prepayment. The extension may be granted at any time, provided that a request therefore is filed with the commissioner within or prior to the period for which the extension may be granted. Interest at the rate prescribed by Section 12631 shall be paid for the period of time for which the extension is granted.
"Annual Tax - Revenue and Taxation Code Section 12306: The commissioner, for good cause shown, may extend for not to exceed 30 days the time for filing a tax return or paying any amount required to be paid with the return. The extension may be granted at any time, provided that a request therefore is filed with the commissioner within or prior to the period for which the extension may be granted.” Please see return instructions for more details regarding extensions, requests and interest.
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|On March 30, 2020, in response to the COVID-19 pandemic, Governor Gavin Newsom issued Emergency Order N-40-20 that, among other things, granted authority to the California Department of Tax and Fee Administration to extend the time for filing tax returns and payment of taxes that it oversees for a period of up to three months after the due date of the tax return or payment of any required taxes of less than $1 million.
|As found in the return instructions for Form 207 and Form 207F, “To request an extension of time to file Form 207 [or Form 207F], a company must file Form 207/207 HCC EXT [or Form 207F EXT] and pay all the tax it expects to owe on or before March 1, 2020.”
|Per Bulletin 252, “the IDOI will modify its own internal policies by implementing a 60-day grace period relating to renewals and cancellations for all licensees, certificate holders, and registrants. This includes premium tax and surplus lines premium tax filings.”
|§4205. Reporting of Insurers Quarterly Reports
A. The April 15, 2020, deadline to file Form 1071, Quarterly Tax Statement, and to remit the tax due shall be extended to July 15, 2020.
B. Insurers that qualify for the extension in subparagraph A of this section shall file the quarterly report and remit any tax due, on or before July 15, 2020.
C. Quarterly Reports originally due on April 15, 2020, received on or before July 15, 2020, shall be deemed timely and insurers qualifying for an extension under Emergency Rule 42 shall not be subject to penalties, fees, fines, suspensions, or revocation of their Louisiana certificate of authority.
|Per Bulletin No. 20-19, “The Commissioner does not have the authority to amend premium tax payment due dates. The due date for the payment of quarterly estimated premium taxes is still April 15, 2020.” However, “The Commissioner will exercise his discretion to waive penalties and interest for the late payment of quarterly estimated premium taxes due on April 15, 2020, if an insurance company is unable to make such payment timely because the COVID-19 pandemic has impacted the operation of the company’s premium tax administrative offices. Insurance companies should be prepared to submit documentation of such impact at the request of the Commissioner.”
|Per TIR 20-4, “The Commissioner’s authority under G.L. c. 62C, § 87 to delay due dates does not extend to corporate excise filings and payments. However, the Commissioner will waive late-file and late-pay penalties for corporate excise (including financial institution and insurance premiums excise) returns and payments due on April 15, 2020, when those returns and payments are filed and made by July 15, 2020. By law, interest will still accrue on any amounts not paid by April 15, 2020. The waiver of penalties applies to corporate excise returns and payments with an original due date of April 15, 2020, including those of certain S corporations and non-profits that file on a fiscal-year basis and have tax returns and payments due April 15, 2020.”
|WARNING: The 50% prepayment of Insurance Premiums Tax that certain taxpayers must pay for 2020 is due no later than June 1, 2020. This due date has not been extended. Taxpayers subject to the Insurance Premiums Tax, are required to remit “an amount equal to one-half of the tax payable under subsection (a) hereof on the company's business done during the preceding calendar year” no later than June 1, according to N.J.S.A. 54:18A-1(b),(c). As a result of circumstances arising from the COVID-19 Pandemic, we are not issuing Notices of Adjustment to businesses confirming the amount of prepayment. Taxpayers must remit their prepayment amount as calculated from their 2019 Insurance Premiums Tax return DEXM, DEM, EXM or EM that had a due date of March 1, 2020.
|WARNING: While New Mexico has extended filing deadlines for certain taxes, we have received correspondence from TRD indicating these extensions do NOT apply to insurance premium tax.
|Per Notice N-20-8, “The due date for estimated tax payments due on June 15, 2020, for personal income, fiduciary, and corporate taxpayers remains in place.” No extension is available.
|Per Notice N-20-2, “the Commissioner has extended the April 15, 2020 due date to July 15, 2020, for New York State personal income tax and corporation tax returns originally due on April 15, 2020. In addition, the Commissioner is allowing taxpayers to defer all related tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed.”
|PA Corporation Specialty Taxes Extension Coupon (REV-426) is available for requesting an extension. Instructions on this form state, “You must timely file REV-426 even if you are not making a payment with the extension request.”
|The Department of Revenue is temporarily waiving the requirement for corporate officers to physically sign and date certain corporate tax returns with a wet signature. This waiver applies to tax returns that cannot be submitted to the department electronically. Examples are the returns due for Gross Premiums Tax and Mutual Thrift Institutions Tax. This waiver will be in place during the emergency disaster declaration signed by Gov. Wolf in response to the COVID-19 pandemic. The emergency disaster declaration was signed on March 6, 2020. In place of the corporate officer signature, the person who prepares the return should write in “COVID-19” on the signature line. This will serve as a temporary solution to authenticate the filing of the return if the corporate officer is unable to sign and date the return due to the pandemic.
|According to Advisory ADV 2020-11, “certain business entities can defer Rhode Island returns and tax payments, normally due April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed.”